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Despite facing challenges such as layoffs and a lack of widespread adoption of its metaverse, Facebook’s virtual reality (VR) subsidiary, Meta, is still planning to invest heavily in VR in 2023. According to a statement from Facebook CTO Andrew Bosworth, the company’s Reality Labs department, which is responsible for the…

Cost cutting at Meta is underway with the Wall Street Journal reporting “many thousands” are likely to lose their jobs at the company starting this week. Indications of imminent cost cutting at Meta picked up late last week as developers and researchers reported events and travel sponsored by the company…